One in four home buyers receive help from family and friends
Financial services firm, Legal & General (L&G), has reported that more than one or four buyers receive help from family and friends to get them on to the property ladder.
However the average financial contribution from parents this year will be £18,000, down 17% from last year’s £21, 600.
L&G said almost 317,000 housing transactions this year would rely on at least some parental help. This figure equates to 27% of homebuyers.
Full story available from BBC News: http://www.bbc.co.uk/news/business-44283507